Yes, you can get a home loan!

Despite the daily doom and gloom news regarding the slow housing market, if you are thinking of buying a home, you can probably get a loan. Yes, that applies to first time buyers as well who may not have a down payment.

It's true that mortgage companies are tightening their underwriting guidelines and loans with non-verifiable income, plus the sub prime market (those buyers with credit scores under 600) are virtually gone.

But there is good news! It is an excellent time to be a buyer because of all the homes for sale right now--too much inventory gives you more negotiating power. Fixed interest rates are still low, just above 6%.

If you have a good credit score and income to support it--you can get a home loan. If your score needs some tweaking, dedicate yourself to improving your score over the next few months and plan to buy next year.

I specialize in working with first time buyers. If you are thinking of purchasing a home or condo and have questions, email me at

mary.hutchison@prukc.com I'm here to help.

Friends and neighbors,

Here are the September sales statistics for Jackson and Johnson County, according to the Heartland MLS service...there is a continued downward trend in sales BUT let's be positive--it's a great time to be a buyer!

And for those who are selling--yes, there are buyers but they are being very choosy and want to look at everything on the market. Make your house show the best in it's price range and MARKET MARKET MARKET the home every way possible!

Jackson County:

Pending sales: 732. September 2006: 886 (down 17%)

Average price: $128,495 September 2006: $139,537 (down almost 8%)

Inventory: 8461 September 2006: 7745 (up over 9%)

Johnson County:

Pending sales: 604 September 2006: 723 (down over 16%)

Average price: $245,822 September 2006: $256,197 (down 4%)

For specific information on your subdivision/part of town, contact me at 816 510 1262. I'll be happy to pull the stats for you.

Mary

This week, local National Public Radio station KCUR celebrates it's 50th anniversary of broadcasting. KCUR listeners are very dedicated to the station. Their superior local programming is virtually unmatched in local radio media. Although many of us miss the music show Sonic Spectrum, the news and other music programs deserve your support. This station feeds both sides of the brain: the intellectual desire for up to date information, news headlines, quirky human interest stories and the aural craving for music of all types.

I have volunteered at KCUR for several years, answering the phones during the pledge drive and going on air asking for pledges. This week I'll be on during Morning Edition, 6-8am on Friday. Please call with your pledge Friday morning--I would love to thank you on the air. Imagine your daily routine without KCUR--it wouldn't feel right! You can also pledge on line at kcur.org.

A glorious fall day in Kansas City encouraged thousands of locals to look inside the new Sprint Center yesterday. Monty and I drove down around 2pm and breezed on in to take a look.

It looks ...well, like an arena...still, very impressive. Looking out from the glass panels over the still-in-construction- Power and Light District was a thrill. Once the restaurants and shops are open, and people are walking about, KC will have a downtown just like the cities with much larger populations. The views are expansive and dusk brings out the pastel sky colors over the buildings. The high solid concrete wall facing south is a turn-off, but this hides the loading docks.

The sight views are excellent, the seats are cushioned, there was lots of wheelchair accessible seating and the fabric panels draped across the ceiling will help with sound. Long black curtains can be dropped to block off the higher seats and make the venue appear smaller. Looks like plenty of bathrooms for the ladies!

You may want to have a meal before coming to an event here as the food prices can add up to ask much as you pay for a ticket! The "Sprintburger" is $9 (husband remarked, "you should get a phone with it for that price!"), $4 for a soda and $3.50 gets you a cookie. I saw a cobb salad for $8 and a beer is $6. The Metro Zone bar is a garish orange, but a great idea--a wide open area with access to the arena for viewing what's on, and plenty of tables and chairs plus two long bars for those who want a drink or a chat during the show. Quik Trip has a concession area designed like a real store--it will be interesting to see if they can handle the lines as quickly as they do in the drive up stores.

This is the first step in bringing back our downtown...and you can feel the excitement from everyone who was walking around the building. I'm looking forward to seeing a show there soon...if I can get tickets!

Why is the local real estate market so slow?

And what can you do if you want to sell now?

1. Increased inventory means buyers have more choices and negotiating power. They are taking their time deciding what to buy and want to look at everything out there.

2. Interest rates are rising. Although still low, they have risen over the past 3 months. Some would be buyers who have current rates at 6% or below hesitate to take on a higher rate and may choose to stay put and renovate or add on.

3. During the recent real estate boom, just about anyone could get a loan--those with poor credit, unproven income. Some buyers obtained financing and bought a house that stretched a comfortable limit of payment vs monthly income. With gas, food and medical expenses rising so high so fast the past year, most incomes do not keep up with these essential expenses...thus...

4. Increasing foreclosures. Foreclosures drag down prices in a neighborhood. Experts predict record numbers of foreclosures well into 2008.

If you have a home to sell--consider these facts and price your home accordingly. Make sure it is well maintained, clean and shows like a model. You want buyers to walk in and feel they are getting a bargain! Realize you will probably not get the same price for your house as you would have 1 or 2 or 3 years ago. There ARE buyers out there. Be the best showing house, make sure it's marketed well and you will get offers!